100 Park PlPainesville, OH 44077

Property Details for 100 Park Pl

Year built

1973

Lot size

1.84 AC

Property size (Sq ft)

198,276 SF

Zone code

B-3

Property type

Office buildings

APN

15-C-001-0-00-001-0

APU

15C0010000010

Description

This exceptional three-story commercial building, situated in the heart of Painesville, Ohio at 100 South Park Place, presents a unique opportunity for multiple tenants. Boasting approximately 191,000 square feet of rentable space, this Class C property offers a diverse range of unit sizes to accommodate various business needs. Built in 1973 and zoned B-3, the building features convenient freight and passenger elevators, ensuring easy accessibility for both tenants and customers. A rear loading dock further enhances operational efficiency. The property sits on a 1.75-acre lot (APN: 15C0010000010, Lake County) and is ideally suited for a mix of uses, including restaurants, professional offices, art studios, fitness centers, coffee shops, yoga studios, hair salons, and other retail establishments. The owner is willing to collaborate on build-to-suit projects for qualified tenants, offering a high degree of customization and flexibility. One space is currently available. This is a full-service property in a vibrant downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $35,669,836

  6.5%

  $32,926,002

  7%

  $30,574,146

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,546,738

  Geo Method

  $18,546,738

• Alternative Use

  Use

  Valuation

  Residential

  $40,828,244

  Hospitality

  $37,398,452

  Educational

  $31,115,072

  Medical

  $32,185,168

  Retail

  $48,401,224

Location Insight

City

Painesville

County

Lake

State

Ohio

Latitude

41.7246

Longitude

-81.2426

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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